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New Venture Creation

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Abstract

New Venture Creation: Entrepreneurship for the 21st Century, Canadian Edition, addresses the needs of upper-level entrepreneurship and new venture courses. Timmons provides strong, comprehensive theoretical coverage balanced with practical examples and cases, all designed to instruct students on how to formulate, plan for, finance, launch, manage, and eventually harvest a new venture. Timmons, Canadian Edition, is a rigorous, practical, and experiential text. The hands-on approach gets students thinking, planning, and ready to execute their own businesses. The text is practitioner-focused, features an especially rigorous section on financials, and focuses on high-growth, innovative ventures. Timmons covers the process of getting a new venture started, growing the venture, and successfully harvesting it. Through text, case studies, and hands-on exercises, this "how-to" text guides students in discovering the concepts of entrepreneurship and the competencies, skills, tools, and experience that will equip them to recognize entrepreneurial opportunities. Acknowledging that there is no substitute for actually starting a company, the Timmons authors believe it is possible to expose students to many of the vital issues and immerse them in key learning experiences that result in successful new venture creation.
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... Today's students do not have much competence and capacity to turn their business ideas into viable businesses (Timmons, 1994;Shane et al, 2012). In fact, the initial success of a new business is largely determined by the readiness of students to realize their ideas into viable businesses (Shane at al., 2012). ...
... Opportunity is something that has never been used or exploited by other students which is expected to generate economic value (Baron, 2004). To take advantage of opportunities well, students need a good concept (Timmons, 1994). Individual readiness to start a new business makes entrepreneurial opportunities even clearer (Barringer and Ireland, 2020;Stam et al, 2008). ...
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A R T I C L E I N F O This study aims to analyze the effect of entrepreneurial competence, entrepreneurship opportunities, and entrepreneurial motivation on entrepreneurial readiness. This study uses a quantitative approach and the population of this study were all students in UNM and the samples were taken using the probability sampling method with proportional random sampling of 140 respondents. Data collection techniques using research questionnaires that have been developed based on indicators of research variables and have been tested for validation and reliability. Data analysis technique using Path Analysis. The results of the study indicate that competence and opportunities have a direct and significant influence on entrepreneurial readiness and also have an indirect influence on entrepreneurial readiness through student entrepreneurship motivation.
... Entrepreneurship is a composite concept with many factors. Timmons et al. (1999) proposed that entrepreneurship was a highly dynamic process with the joint action of the three elements of opportunity, resources, and team. Therefore, scholars have actively discussed the relationship between entrepreneurial ability and entrepreneurial performance, including opportunity identification ability, resource integration ability, and team management ability (Sang et al., 2012;Chen and Chen, 2016;Yang et al., 2019). ...
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Improving the performance and success rate of college students’ new ventures has attracted increasing attention globally. In this study, a questionnaire survey was conducted among 1500 college students who were directly involved in entrepreneurial activities in 23 provinces in China. The study explores the effects of team management and risk prevention abilities on college students’ entrepreneurial performance. The results show that risk prevention ability significantly increases university students’ entrepreneurial performance (e.g., profit and loss status, capital flow, and staff flow). Team management ability enhances these entrepreneurial indicators to varying degrees, with a “threshold” effect of its impact on entrepreneurial performance. With a continued increase in team management ability, the effect of risk prevention ability on entrepreneurial performance becomes increasingly more significant. Specifically, when team management ability reaches a medium level and above, risk prevention ability significantly improves capital flow and staff stability; and when team management ability reaches a high level, risk prevention ability significantly improves enterprise profitability indicators.
... According to Timmons-Spinelli (2003), "entrepreneurship is a way of thinking and acting that is opportunity-oriented, holistic in approach, and balanced by governance (leadership)". ...
Conference Paper
In our study within the European Union, we examine the countries of the Visegrád Four in terms of climate change and sustainability. The Visegrád countries (also known as V4) have gone through great changes during the last two decades. The four countries – the Czech Republic, Poland, Hungary and Slovakia – have invested/are investigating great power in the regulation, mitigation of climate change and in sustainable development. It is essential to examine how the V4s adapt to climate change and what strategies they have put in place to reduce the problems and extent to which this is related to their sustainable development programs. The most important goal of the study is to identify the similarities and differences between the V4 countries in their climate change and sustainable development strategies and to provide insight into progress in the relevant indicators using simple statistical methods. The question is: do we find any difference from the indicators used to measure progress in the strategies or are they the same as the sustainable development indicators for SDGs?
... Entrepreneurship also refers to the general trend of setting up new enterprises in a society (Nawaz, 2009;Begum, 1993). In the words of Timmons et al. (1989), -entrepreneurship is the process of creating and building something of value from practically nothing. That is, it is the process of creating or seizing an opportunity and pursuing it regardless of the resources currently controlled. ...
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Despites the increase attentions by researchers to the entrepreneurship as a field of study, the review of the literature indicates research in this important area of study remain limited, specifically related to the factors that determine entrepreneurial activities. Therefore, this paper aims to investigate the factors that determine entrepreneurial activities. Based on the review of the literature and past studies, the study reveals six factors that influence the entrepreneurial activities. These factors are Regulatory Framework, Market Conditions, Access to Finance, Creation and Diffusion of Knowledge, Entrepreneurial Capabilities and Entrepreneurship Culture. This study, proposed a research framework that indicates the influence of these factors on the entrepreneurial activities. Furthermore, the study suggests an empirical investigation to test their influence on entrepreneurial activities.
... Building on Timmons and Spinelli's (1994) definition, Islam and Mamun (2000) recognised the entrepreneur as a person who has the tendency to assume personal responsibility, take risk, and make sacrifices while being achievement oriented. Bolton and Thompson (2000) define the entrepreneur as creative and innovative, while Brem (2011) highlights the connection between innovation and entrepreneurial activities. ...
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Opportunity recognition plays a key role in understanding entrepreneurship and its development. This research focused on the impact of demography on opportunity recognition. The aim was to investigate the effect of age, gender and education on opportunity recognition on entrepreneurs in the Caribbean. Selection of those areas aligns with their importance seen in other related studies. The dataset for the research came from the Global Entrepreneurship Monitor (GEM) Adult Population Survey. The findings highlighted that as age and education years increase, the odds of opportunity recognition decrease and that males are more likely to recognise opportunities. Additionally, further exploratory analysis showed that age partially mediates the relationship between education and opportunity recognition. If researchers can achieve a better understanding of the impact of demographic factors on opportunity recognition, this can assist entrepreneurs in appraising their own prospects. In addition, governments can use this research to inform the design of more effective and supportive policies.
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Digital technologies, such as artificial intelligence (AI), big data, and the Internet of Things, are becoming increasingly mature. They have become the driving force behind a new wave of innovation and entrepreneurship activities worldwide. AI is the core of the contemporary digital technology industry. New high technologies bring greater opportunities for entrepreneurs to carry out entrepreneurial activities and bring unprecedented challenges to traditional entrepreneurial activities and theories. The existing literature on the impact of AI on entrepreneurial activities is still in the exploration stage. Based on this, this study aims to explore the entrepreneurial process of AI start‐ups, combining with existing literature, select AI unicorn start‐ups ByteDance for a case study, and apply the grounded theory method to analyse and summarise the entrepreneurial process of Internet start‐ups with AI. Thus, it can provide insights for many AI start‐ups and contribute to the existing entrepreneurial research.
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Este caso relata a trajetória de um empreendedor destemido que identificou, em meio às dificuldades de uma cidade no interior do Ceará, a oportunidade de fundar em 2007 uma Instituição de Ensino Superior, que vem apresentando indicadores que contribuem para superar tais desafios e se colocar no mapa da Educação do Brasil, tornando-se um Centro Universitário. Os dados foram coletados por meio de entrevistas semiestruturadas com o fundador professor Luciano Feijão e o suporte de documentos fornecidos pela instituição educacional. Sugere-se que o caso seja utilizado em curso de graduação em Administração ou áreas afins, especificamente nas disciplinas de Empreendedorismo, Tomada de decisão e Processo decisório. Justifica-se o uso do caso nessas disciplinas por estimular os alunos a refletir e relacionar o contexto teórico com a prática gerencial a partir de uma análise sobre os comportamentos, perfil e características empreendedoras, e a capacidade de tomada de decisão do gestor que atua em um segmento altamente competitivo de mais oferta que demanda. Palavras-chave: Empreendedorismo. Tomada de Decisão. Ensino Superior.
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In its fifth report, South Africa's Department of Higher Education and Training (DHET), published on 31 March 2020, called for institutions to carefully investigate undergraduate business education (curricula) after the business, economics and management studies (in the Classification of Educational Subject Matter (CESM)) category presented the highest dropouts and lowest throughput rates. To understand the academic journey of entrepreneurship students, this study reviewed the literature through the lens of the General Systems Theory (GST), together with Tuckman's (1999) Tripartite Model of Motivation for Achievement (TMMA). Accordingly, this study viewed the journey of students as a dynamic system with the students having some characteristics and motivations (inputs) when entering higher education, and what the higher education institutions should do (processes) to achieve improved academic performance (output) of students. From the literature reviewed, this study suggests the need to profile students based on their pre-enrolment information and capturing the perceptions of what they think influenced their academic performance in high school. Apart from this, the need to understand the entrepreneurial profile of students has been suggested considering the importance of entrepreneurship in employment creation, especially in South Africa, with an unemployment rate of 32.6%. Thus, it is necessary to produce graduates with the much needed entrepreneurial capabilities in the South African economy.
Chapter
It is now recognized in both developed and developing countries that business incubators are important instruments for promoting entrepreneurship development and technological innovation at the small and medium enterprise level. Pioneered in Western Europe and North America there are now thousands of business incubators all over the world established with the primary objective of stimulating the emergence of a steady flow of successful small and medium scale enterprises, thereby promoting entrepreneurship and innovation in particular and socio-economic development in general.
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